TORM (NASDAQ:TRMD) Trading Up 2.9%

TORM plc (NASDAQ:TRMD) was up 2.9% during trading on Tuesday . The company traded as high as $36.30 and last traded at $36.04. Approximately 257,988 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 684,555 shares. The stock had previously closed at $35.01.

Analyst Ratings Changes

Separately, Evercore ISI boosted their price target on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

TORM Stock Performance

The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $36.70 and a 200 day moving average of $36.03.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The business had revenue of $437.70 million for the quarter, compared to the consensus estimate of $325.38 million. During the same quarter in the previous year, the company posted $2.14 EPS. As a group, equities analysts forecast that TORM plc will post 7.1 earnings per share for the current year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a $1.80 dividend. This is an increase from TORM’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a yield of 19.97%. TORM’s payout ratio is presently 66.41%.

Institutional Trading of TORM

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in TORM in the 4th quarter worth approximately $22,306,000. SG Americas Securities LLC increased its position in TORM by 597.3% during the second quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock valued at $888,000 after acquiring an additional 19,628 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of TORM in the first quarter valued at $1,229,000. Quantbot Technologies LP bought a new stake in shares of TORM in the 1st quarter worth about $2,836,000. Finally, Swiss National Bank boosted its stake in shares of TORM by 18.4% during the 1st quarter. Swiss National Bank now owns 79,609 shares of the company’s stock worth $2,700,000 after purchasing an additional 12,353 shares during the period. Institutional investors own 73.89% of the company’s stock.

About TORM

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.